Iberdrola and bp to Partner to Accelerate EV Charging and Green Hydrogen Production

Business Power & Energy

Inberdrola and bp announced their intention to form a strategic partnership aiming to help accelerate the energy transition. Both the companies intend to collaborate to significantly expand the fast EV public charging infrastructure to provide support to the adoption of electric vehicles, and also developing large scale green hydrogen production hubs in Portugal, Spain, and the United Kingdom.

Ignacio Galan, chairman of Iberdrola, said with this agreement, they will continue advancing in energy self-sufficiency and decarbonisation through the electrification of two main sectors of their economy, industry, and transport.

The scale of this challenge mainly requires alliances between companies like Iberdrola and bp, which have the knowledge and technology necessary to help accelerate the industrial development of Europe and produce new opportunities for all through clean energy.

Bernard Looney, chief executive officer of bp, said creating the low carbon energy solutions that their customers want and need requires the integration of different technologies, forms, and capabilities of energy.

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Bernard Looney also said they can also deliver this faster and at scale when they work in partnership with others, and they have enormous respect for Iberdrola who have been an early leader in the transition of energy, and they are very excited about what they can deliver together.

Both bp and Iberdrola plan to form a joint venture that intends to invest around 1 billion euros to launch a network of around 11,000 rapid electric vehicle public charging points across Portugal and Spain, expanding access to charging for fleet customers and consumers accelerating electric mobility.

Sandy

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